Sector News

Nature's Path acquires majority stake in snack food company

September 29, 2016
Food & Drink

Nature’s Path, Inc., a manufacturer of organic and non-G.M.O. breakfast and snack foods, has entered into an agreement to acquire 51% of Gorilly Goods, Jackson, Wis., a maker of raw and organic snacks. Terms of the agreement were not announced.

Nature’s Path’s involvement will provide the needed capital for Gorilly Goods to increase its manufacturing and leverage Nature’s Path retail network to expand distribution throughout North America and markets around the world, according to the company.

“Gorilly Goods delivers the type of tasty, organic and nutritious on-the-go snacks our consumers seek,” said Arran Stephens, co-chief executive officer of Nature’s Path. “Combined with our distribution and sales network, this addition to the Nature’s Path family will be a screaming success.”

Nature’s Path’s decision to invest came after Gorilly Goods executives pitched their business concept to Nature’s Path at the company’s first venture funding event at Expo West 2016 in Anaheim, Calif., this past March. At the event, three finalists in the organic food industry presented their business and growth opportunities to Mr. Stephens and the rest of Nature’s Path’s management team.

“I knew we had to be part of such a delicious and healthy organic snack food,” Mr. Stephens said. “From quality, organic commitment and shared values to leave the earth better than you found it, it’s truly a marriage made in heaven.”

Gorilly Goods was founded 15 years ago by Chris and Stephen McDiarmid. The company today offers a range of savory and sweet on-the-go organic and non-G.M.O. raw snacks that feature different nuts, fruits, seeds and greens combinations. Two per cent of all Gorilly Goods profits are donated to the Dian Fossey Gorilla Fund, which, according to the company, represents the symbol of what the company stands for: organic, sustainable and a delicate but powerful balance in the ecosystem.

Nature’s Path said Gorilly Goods will remain headquartered in Wisconsin.

By Keith Nunes

Source: Food Business News

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